Total spending went up 0.6% m/m. Overall, total consumer spending increased 1.9% in 3-month average terms and 6.5% over the past 12 months.
Report
August 2, 2013
US Economic Update – US GDP Q2 2013
US GDP rose by 1.7% (annualized rate) in the June quarter, an improvement on the March quarter, but still only a modest rate of growth. The stronger growth largely reflected a pick-up in business investment and a much smaller detraction from growth from public demand.
- US GDP rose by 1.7% (annualized rate) in the June quarter, an improvement on the March quarter, but still only a modest rate of growth.
- The stronger growth largely reflected a pick-up in business investment and a much smaller detraction from growth from public demand.
- We expect GDP will grow by 1.5% in 2013 (previously 1.8%) and 2.7% (unchanged) in 2014. The downwards revision in 2013 largely reflects downwards revisions to historical data.
For further analysis download the full report.
- US Economic Update – US GDP Q2 2013 (PDF 216 KB)
